Am I doing the right thing concerning CC

supernova480

I only have the one credit card and I've read before that it's beneficial to keep a little credit on it. So I tend to spend my shopping or petrol on it and leave around £50 owing each month, when the statement comes in I pay it off immediately, and then repeat for the following month. Is this the right thing to do or should I be spending and then clearing it before the new statement is due? So I owe £0 each month?

I'm currently saving for a house deposit and hoping to buy within the next 12 months. I know I shouldn't be concerned with actual credit scores, but the information they give me on my actual reports tell me I'm doing everything correctly.

Thank you

[Deleted User]

Always wait for the statement and then clear in full.

If you always pay it immediately and have a permanent zero balance, it can look like you're not using your card, which indicates to lenders you're nervous about credit - which isn't a great look.

supernova480

Perfect, thank you. I'll continue as I am then, leaving around £50 for each new statement and then pay it off when it's due.

robboa

nervous about credit - what a load of rubbish that part of the advice is. but yes wait till the statement comes in

[Deleted User]

robboa wrote: »

nervous about credit - what a load of rubbish that part of the advice is. but yes wait till the statement comes in

No - it's perfectly sound advice